Sunset Strip | Aussie Afternoon Institutional Market Wrap
Aussie market pulled out a positive day after six straight negatives, albeit a slight one. We need to see bond market settle before the market feels completely confident to jump in and buy equities. Even though value has definitely returned to the market, the sentiment remains negative with global macro uncertainties and local economy in decline. The key risk remains the bond market selloff raising bond yields. RBA came out today and confirmed that the property market in Sydney is “CRAZY” and the easing bias is back on. There is one thing common in all the currency forecasts….the domestic economy is going to get smacked and it’s definitely man made…yes that’s right, it was created by the government’s direct action policy towards manufacturing that will deliver historical high unemployment in the next 12mths. Banks finally stayed positive while Aussie gold miners are getting interest as spot gold holding up around US$1180 with AUDUSD expected to fall. (VIEW LINK)
Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...